In June in the capital and other major cities the secondary housing market stability was observed, which manifested itself as a market activity, as well as in prices. According to estimates, the average price index in this market amounted to $ 1,211 per 1 sq. meter. The most attractive parts of the capital still are Yasamal, Nasimi, Narimanov and Khatai. These four regions accounted for over 75% of the package of proposals. In June, buyers preferred 1, 2 and 3 room apartments, while 4 and 5 room apartments were not in demand. The greatest demand in the market was for apartments, the cost of which was below the average price (in 1,211 dollars). They made up 53.3% of the demand.
Experts explain the stability of prices in June mainly with seasonal factors, as people prefer to relax in the summer, which has an impact on the activity of the market. In total, the experts link the rise in price in the market with mortgage lending and the purchase of property by people whose homes were subjected to demolition.
One of the experts described the situation: "ongoing studies show that currently 90% of the population exchange housing and 7% buy housing on the mortgage, while only 3% buy housing." Until the end of the season the market will remain stable.
Economics
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